Edited by Peter Hillerberg3 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
US-listed ETFs pulled in $85B of net inflows in a single week. That dwarfs every other geography combined. Japan was a distant second at $12B. The scale of the US dominance sets the tone for everything else in the data.
Japan's $12B weekly inflow stands out. It comes with a flow imbalance of 79, signalling strong buying pressure. Over three months, Japan has attracted $7.6B net. The short-term surge is sharp against that quieter backdrop, suggesting a fresh wave of allocation rather than a trend continuation.
Brazil pulled in $2.8B in the week, with a flow imbalance of 95. Nearly all the money going in is new buying, with almost no offsetting outflows. Over three months it has attracted $3.1B, so this is a consistent trade.
Mexico and Israel both bled money this week. Mexico posted a $317M net outflow. Israel saw $207M leave. Both ran strong buying imbalances over three months, so the weekly reversal marks a change in direction worth watching.
Germany saw a modest $20M net outflow this week. That is a small number, but ORTEX Alt Data shows German battery-electric car registrations hit 88,335 in September, up 95% on the same month last year. Total new car registrations reached 255,698, the largest September since 2021. The macro signal is strong. The ETF money has not followed yet.
Financials was the biggest losing sector this week, shedding $1.9B in net outflows. That is a sharp weekly swing. Over three months, the sector has lost $6B. The selling is persistent, not a one-week blip.
Information Technology flipped. Over three months, tech ETFs shed $11.1B, making it the worst-performing sector in the period. This week it attracted $745M in net inflows. That reversal is worth noting. The gross flows are enormous on both sides, $8B in and $7.2B out, so the balance is fragile.
Utilities collected $701M this week and $3B over three months. Health Care brought in $641M on the week and $2.9B over the quarter. Both defensive sectors are building consistent inflows as investors look for yield and stability.
Industrials lost $742M this week. Over three months it was near flat at just $231M net. The weekly move looks like profit-taking rather than a structural exit.
Equity ETFs pulled in $113B net in the week. Fixed income added $24B. Both asset classes show strong buying pressure, with flow imbalances above 70. This is a risk-on and carry trade week running simultaneously.
Over three months, fixed income has gathered $294B net against equity's $517B. Commodities reversed this week, losing $220M after collecting $30.6B over the quarter. Currency ETFs also moved into outflow on the week after three months of steady inflows.
Active strategies dominated the weekly strategy table. Active ETFs pulled in $82B against vanilla's $16.5B, with a flow imbalance of 95. Over three months, vanilla leads at $221B but active is closing the gap at $174B. The shift toward active management is accelerating in the short term. Dividend strategies reversed course, posting a $146M outflow this week after $12.2B of three-month inflows.
The overall tone is risk-on. Equities and fixed income are both attracting money. Defensive sectors like Utilities and Health Care are joining the broad rally rather than acting as a refuge trade.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
